US

National Gas Average Nearly $4 Per Gallon

National Gas Average Nearly $4 Per Gallon

NEW YORK (AP/THE BLAZE) — The average price of gasoline is now above $4 per gallon in five states, and it could rise to that level in New York and Washington, D.C., this weekend.

For American drivers, the $4 mark is a grim reminder of tougher times. The last time gas prices were that high was in the summer of 2008, just before the economy went into a tailspin. Retail surveys suggest motorists are reacting to higher prices now by buying less fuel, yet the government expects pump prices to keep climbing this summer.

Via Fox News is this video report on the matter:

The national average has increased for 24 straight days, hitting $3.82 per gallon on Friday. Motorists in Connecticut, Illinois, California, Hawaii and Alaska now pay more than $4 per gallon. A gallon of regular cost an average of $3.979 in New York and $3.999 in Washington.

The rapid increase at the pump follows a parallel rise in oil. Oil, which has been rising slowly since 2009, gained momentum as the Libyan rebellion effectively shut down its exports. Crude has jumped 28 percent since the uprising began in the middle of February.

Oil fluctuated this week amid uncertainty about how much higher it could go. It resumed its climb on Friday with some positive economic news. The Federal Reserve released data showing U.S. factories increased production for the ninth consecutive month in March. And the Labor Department reported that inflation rose 0.1 percent last month, excluding food and gas prices. Analysts expected inflation to rise twice as much.

Benchmark West Texas Intermediate crude for May delivery rose $1.55 to settle at $109.66 per barrel on the New York Mercantile Exchange. At one point it rose to $110.10. In London, Brent crude added $1.45 to settle at $123.45 per barrel on the ICE Futures exchange.

Some traders and analysts expect oil to keep rising this year, arguing that the Libyan crisis will continue to constrict world supplies. Libya provided less than 2 percent of global demand. The world may still enjoy a surplus of crude, but experts say OPEC would struggle to keep up with demand if another conflict hampers oil production elsewhere.

Others point to retail surveys and industry reports that suggest Americans have started to buy less fuel, which could bring down the price.

“The biggest problem is that the data is not that reliable in the short term,” said Michael Lynch, president of Strategic Energy & Economic Research. “And when you’re in a bull market like this, people will talk themselves out of negative news. They’ll say any drop in demand is an aberration: People aren’t burning their SUVs just yet, and the economy hasn’t collapsed.”

Experts say crude could remain in a holding pattern while the market awaits further evidence about how consumers are handling higher prices.

This week, benchmark crude has mostly moved against the dollar. Oil, which is traded in dollars, tends to rise when the dollar weakens and makes crude barrels cheaper for investors holding foreign currency. It tends to fall when the greenback moves in the opposite direction.

In other Nymex trading for May contracts, heating oil rose 3.52 cents to settle at $3.2242 per gallon and gasoline gained 5.45 cents to settle at $3.2892 per gallon. Natural gas gave up 0.8 cent to settle at $4.204 per 1,000 cubic feet.

Comments (70)

1 2
  • DocStrangelove
    Posted on April 16, 2011 at 12:37am

    Thank the SPECULATORS on Wall Street for this, folks.

    The SOONER we get off of fossil fuels, the STRONGER and SAFER our Nation will be.

    Report Post » DocStrangelove  
  • scipio
    Posted on April 15, 2011 at 9:54pm

    yeah try, $4.25 at stations here in california.

    Report Post »  
  • AMERICA4EVER
    Posted on April 15, 2011 at 8:03pm

    Is there some computer application out there to remove any image of Obama when it is about to appear on a page I am visiting? I can’t take it anymore!

    Report Post »  
  • glover7873
    Posted on April 15, 2011 at 7:59pm

    I would vote for Glenn Beck!! There is no way this economy is going to get better anytime soon. Everybody should be worried. Glenn and a few other people could help fix it, But it is way too big to fix in a year or two.

    Report Post »  
  • obama_binpharteen
    Posted on April 15, 2011 at 7:24pm

    Glenn Beck for President..
    To all of you that think Glenn Beck won’t run for President in 2012, think again. I remember Glenn talking many times about George Washington not wanting to be president, but did it any way for the good of the U.S. I‘ve heard Glenn say many times he didn’t want to be president, but I think we all know he is our George Washington. I really think Glenn is ramping up for the 2012 presidency. He’s got my vote..

    Report Post » obama_binpharteen  
  • P4cooler
    Posted on April 15, 2011 at 7:15pm

    Obama says no drilling in the Gulf. The Obama Feds won’t issue any permits to oil companies to drill. How do you Obama voters feel? Never forget that these gas prices are results of Obama’s policies. Ungodly that he gave 2 billion of our money to Brazil for a huge oil rig in the Gulf. “To Hell with America” says Obama with his actions and his pastor with his sermon.

    Report Post » P4cooler  
  • hempstead1944
    Posted on April 15, 2011 at 7:14pm

    Thanks Obama !

    Report Post »  
  • miles from nowhere
    Posted on April 15, 2011 at 7:12pm

    Every time the price of gas goes up Obamas poll numbers go down. All commodities and consumer goods cost more, cost goes up, Obamas poll numbers go down. Guess what you libs potting mouthing the regular folks during a time of crisis while this recession is government driven just gives more power to the opposition party. Here is some news you libs can use, the price of gas should only be 2 dollars a gallon and we the public know this, if you think Obama has made a good choice on this matter just before an election, think again, because I personnally disagree with you.

    Report Post »  
  • AllAmericanG
    Posted on April 15, 2011 at 7:12pm

    @WHITETEAPARTY
    Have you seen a doctor? I hear they had success getting the hampster out of Richard Gere’s butt, maybe they can help you.

    Report Post »  
  • miles from nowhere
    Posted on April 15, 2011 at 6:51pm

    We were just told that this is uncalled for, speculaters are driving the price, and the people making big money on this are the bankers that ripped the public off in the financial scandel, wall street, and the oil companies. What I want to do is vote everybody out of office that thinks this is OK, because the rural counties that people live in and the truckers that deliver goods are getting hurt by this gas policy that is Obama .driven. This puke of a president is killing America and those libs in cities have not a clue about life in rural America because there is no train, bus, or mass transit in the country. So the piss ant urban dwelling liberal wacko forgot there is a rural America and these wack jobs are just as much to blame.

    Report Post »  
    • mrclean
      Posted on April 15, 2011 at 7:44pm

      My beef too. There’s no way I can make it if the price goes up much higher. And judging from posts here and the news out there, I have no idea how I will manage. The obama government has made me a victim and I am fighting mad.

      The government is 100% to blame in this mess. Steven Chu is just one more of Obummers @ss kissers and totally anit-American. Will someone please tell me how rural people are going to survive? And don’t quote Hank Jr.’s song.

      My precious metal is lead and my favorite powder is…. dry.

      Report Post » mrclean  
  • ICANHANDLETHETRUTH
    Posted on April 15, 2011 at 6:47pm

    I wonder how obamo’s poll #s will look when gas is over 5 dollars a gallon?? the people that are lucky enough to have jobs still have to drive to work… and lets not forget to factor in the rising food prices……. it looks like a loose losse situation to me……….Good luck AMERICA we could sure use it about now !!!!!!

    Report Post »  
    • sWampy
      Posted on April 15, 2011 at 7:31pm

      The same, the people that elected obama, don’t have jobs, and only use their cars to go buy their drugs and the occasional b&e to make up where welfare doesn’t pay enough to feed their habit.

      Report Post »  
  • Eblaze44
    Posted on April 15, 2011 at 6:43pm

    Gas down at the corner convenience store today was $3.83, it’s down 2¢ this week. It’s amazing, it went up in 10¢ jumps, sometimes two or three times a week, it comes down in pennies every few days. Yes, we can blame the Obama administration AND the Congress for not allowing us to use our own resources. You can even blame OPEC if you like. but the real culprit are the folks that buy futures on the Commodities Exchange. the speculators. It’s not just oil – for those of you who like to blame someone for the loss of jobs in the US – it’s the people that invest in the stock market – people who invest – and the folks that run the corporation know – that a return on that investment is where it’s at. Labor costs have driven manufacturing to Mexico and overseas – that along with Americans willing and wanting to buy cheap goods made in China. There’s where your jobs have gone – and the speculators is where your gas prices have gone.

    Report Post » Eblaze44  
    • AMERICA4EVER
      Posted on April 15, 2011 at 7:27pm

      One should not be allowed to buy commodities unless you intend to take delivery…period!

      Report Post »  
  • DevotedDad
    Posted on April 15, 2011 at 6:37pm

    When Bush was President and the gas rose over $3 dolalr a gallon, there was calls that he was trying to kill people by forcing them to choose between food and gas.

    We now have $4 a gallon, 3 wars, unconstitutional acts on a regular basis, forced Obama Care, and Congress becoming totally irrelevant but there is barely a peep.

    Bias, what bias?

    Whose biased? You must be one of those racist, angry, white tea party people to even suggest such a thing.

    Report Post » DevotedDad  
  • AMERICA4EVER
    Posted on April 15, 2011 at 6:37pm

    Some still don’t get it. People who bought those unsafe gas mizers, are now paying more for gas than they intended to. It now is costing them more than they figured it would with that small car. I have to haul things, and I couldn’t use a small car. We can’t run cars on windmills, or anything else that is out there. Electric cars are a farce. So expensive to but and few places to charge, and too short a travel distance per charge. The world is laughing at us for not drilling here.

    Report Post »  
    • AllAmericanG
      Posted on April 15, 2011 at 7:16pm

      Electric cars also need electricity, most of which in the US is generated by coal. How is that better than oil. People don’t think, they just go along with what ever line of crap they are fed.

      Report Post »  
  • tiredofspam
    Posted on April 15, 2011 at 6:36pm

    Just filled up my car (requires premium)…$76 for less than 17 gallons of gas.

    $4.54/gal @BP in south suburban Chicago.

    Funny thing is that the BP refinery is only about 15 miles away and my area has (historically) got the highest prices in the country.

    Gotta loves the taxes in Swillinois, County of Crook.

    Report Post »  
    • obama_binpharteen
      Posted on April 15, 2011 at 6:40pm

      That’s interesting, gas is about the same price here in Walnut creek, Ca. and the refinery is only about 10 miles away. I guess the closer you are to a refinery, the more you pay…

      Report Post » obama_binpharteen  
  • obama_binpharteen
    Posted on April 15, 2011 at 6:34pm

    Come on people, lighten up. Obama kept his promise; under his plan, energy costs would necessarily skyrocket.

    Report Post » obama_binpharteen  
    • ColoradoDad
      Posted on April 15, 2011 at 8:15pm

      @obama_binpharteen

      You’re right. Obama kept his promise; under his plan, energy costs would necessarily skyrocket.
      I remember hearing that all over the media, on every station…..Oh wait…..No, it was only on the Glenn Beck program. Oh well, I guess they just conveniently forgot about him saying that. Well , promise kept. Thank You B.O….Everyone better buckle up, it’s going to be a helava ride!!!

      Report Post » ColoradoDad  
  • kuuk1
    Posted on April 15, 2011 at 6:28pm

    Obama stated during his campaign that he wished gas prices got to $4.00 a gallon a little slower, then 2 or 3 weeks later stated he was in favor of $12.00 a gallon for gas. I don’t believe Obama and this progressive party wants gas prices to go down….I feel they are the ones helping the price of gas to go up. We can refine our own gas in Illinois, so why don’t we do it?!? oh yeah, we have Gov. Quinn, rotten dem, just another crook…Thanks liberals for the unnecessary pain at the pump and for the other high prices that go with the price of gas going up!

    Report Post »  
    • sWampy
      Posted on April 15, 2011 at 7:26pm

      He hates the poor and middle class, the rich sob‘s like him and the liberals freedom haters he runs with aren’t effected at all. They live off the suffering of the poor and middle class, the more we suffer the better they do.

      Report Post »  
  • vennoye
    Posted on April 15, 2011 at 6:24pm

    Obama should be jumping for joy! After all, gas had to rise appreciably for green options to be equal!! Soooooooooo guess he is “Winning the Future” for us!

    Report Post » vennoye  
  • Defiant530
    Posted on April 15, 2011 at 6:23pm

    As gas price keep rising Obamas chance for re-election goes down,Obama and the left are digging their political graves

    Report Post »  
  • texanpatriot
    Posted on April 15, 2011 at 6:23pm

    As long as the Government does not count gasoline and food in the inflation numbers I feel better.

    Report Post » texanpatriot  
  • Hoosier Daddy
    Posted on April 15, 2011 at 6:17pm

    So, how’s that hope and change working out for you? If you suck on the government teat, probably pretty well. Not so much for the rest of us.

    Report Post » Hoosier Daddy  
  • RightPolitically
    Posted on April 15, 2011 at 6:14pm

    As long as it goes UP SLOWLY, now matter how high, Obama is okay with it!

    Report Post » RightPolitically  
  • quicker
    Posted on April 15, 2011 at 6:12pm

    Takeing my wife out tonight.I`m takeing her to a real exspensive place the gas stastion.Then we`ll beans and weenies for supper.

    Report Post » quicker  
  • WHITETEAPARTY
    Posted on April 15, 2011 at 6:10pm

    Oh sure I guess this is Obamas fault to. If you had cars that got better milage you wouldn’t be complaining about the gas.

     
    • quicker
      Posted on April 15, 2011 at 6:17pm

      And if we put a hose to your butt we could run our car off your gas.It would have a side benifet also like removing your head from your rectum.

      Report Post » quicker  
    • RightPolitically
      Posted on April 15, 2011 at 6:19pm

      You, sir or madame, are A FOOL! First of all, it’s not your “call” as to what type car we drive. Second, your stupid ALTERNATIVE FUELS, driven by a MYTH OF GLOBAL WARMING, cannot supply our need for energy. And third, many Americans would LOVE TO HAVE GOOD JOBS in the Oil Industry if drilling bans were to be lifted. DRILL BABY DRILL and like it!

      Report Post » RightPolitically  
    • hersey10
      Posted on April 15, 2011 at 6:19pm

      We’re only 40% of the way there , Steven Chu say he wanted gasoline at $9 a gallon .

      Report Post » hersey10  
    • quicker
      Posted on April 15, 2011 at 6:24pm

      So are you Jessie Jacksons new love puppy.

      Report Post » quicker  
    • NOBALONEY
      Posted on April 15, 2011 at 6:34pm

      The stimulus,omnimus,healthcare,quantative easing 1 and 2, and the war in libya has all quadrupled our federal deficit. Better mileage, and the correct tire pressure isn’t going to reduce the cost of a gallon of gasoline! Yes, its President Obama’s fault.

      Report Post » NOBALONEY  
    • quicker
      Posted on April 15, 2011 at 6:39pm

      A 2009 ford ranger is hardly a gas guzzler.However as you sit in your basement,pretty soon mon and dad won`t be able to suport you,At least I work and pay my taxes unlike some of your hero`s

      Report Post » quicker  
    • AllAmericanG
      Posted on April 15, 2011 at 7:06pm

      @WHITETEAPARTY – Maybe if they made an affordable vehicle that can carry cargo and get better gas mileage we would have better cars. As it is our vehicle gets about 32 miles to the gallon, so get informed and stop commenting on things you clearly know nothing about.

      Report Post »  
    • sWampy
      Posted on April 15, 2011 at 7:23pm

      70% of the transportation fuel is used by long haul truckers, if all cars got 100mpg it would do no good.

      Report Post »  
    • AllAmericanG
      Posted on April 15, 2011 at 7:24pm

      @WHITETEAPARTY
      It just occurs to me….
      You already have something up your butt
      You get your money from Obama….

      You’re messing with us to see what kind of reaction you can get. Touche – you did a fine job getting the troops riled up.

      Report Post »  
    • Professional Infidel
      Posted on April 16, 2011 at 9:26pm

      White party is in palm springs. all those white party guys are full of crap like you.

      Report Post »  
  • WhiteTeaParty
    Posted on April 15, 2011 at 6:08pm

    Only a matter of time before the idiots on the Right blame Pres Obama for this.

    WhiteTeaParty  
    • Eblaze44
      Posted on April 15, 2011 at 6:47pm

      Seems to me, last time it got up to over $4/gal Bush was Pres – and as I recall – that was all his fault. If we gonna be “fair” this has got to be Barry Soetoro’s fault.

      Report Post » Eblaze44  
    • AllAmericanG
      Posted on April 15, 2011 at 7:04pm

      It is his fault. He refuses to allow drilling in the US but supports it in Brazil. I have no problem moving away from oil, but can we do it when other options are available? My husband drives over 300 miles a day for work and they have not increased his milage allowance in over a year. The last time gas got like this we almost lost everything, including our house. Don’t you DARE get on your high horse and start blaming Republicans for this.

      Barry also got us into an illegal war in Libya that is driving the costs of crude higher all over the world. Spend some time reading a site other than the Blaze before you start making stupid statements!

      Report Post »  
    • Restored One
      Posted on April 15, 2011 at 7:07pm

      Make sure you have locking gas caps. We are already hearing stories of people siphoning from vehicles in town.

      Report Post »  
    • sWampy
      Posted on April 15, 2011 at 7:21pm

      We need to hit the billionaires in their pocket books, to bad the people in this nation are so stupid. If 10% of the country would call up Delta, Disney, Holiday Inn, NBA, NFL, Direct Tv, Cablevision, NASCAR, NCAA, and say we want to cancel our vacations, sports tickets, cable tv, etc. We won’t do any of the above until gas is $2 or less a gallon. Gas would be $2 within 2 weeks. The billionaires that run the entertainment industry are the ones that elect all the politicians, they are the ones who can pick up the phone and say hey idiot, do something about it, or you are fired.

      Report Post »  
    • Patriotsof1776
      Posted on April 15, 2011 at 8:49pm

      Whiteteaparty

      The idiots on the left blamed Bush for rising gas prices… whats wrong? can’t you left-wing loonies can’t take responsibilty for your president?

      Report Post » Patriotsof1776  
    • Cemoto78
      Posted on April 15, 2011 at 10:20pm

      Time to drill baby drill right here in the good ole USA. Build a more nuclear plants for electric and sell the coal to the Chinese.

      Report Post » Cemoto78  
    • DocStrangelove
      Posted on April 16, 2011 at 12:43am

      Indeed…. the morons here think that “new drilling” would have an effect on this market…

      IN REALITY, anything refined from a new rig won’t hit the tanks for a DECADE.

      Report Post » DocStrangelove  
    • teddrunk
      Posted on April 16, 2011 at 6:46am

      You don’t drill, you don’t allow refineries to be built, you pay extortion rates. Why are some people so ignorant.

      Report Post »  
    • mrsmileyface
      Posted on April 16, 2011 at 6:53pm

      Ever notice that Dawg of Gawd is always missing in posts where its obvious theres no rebuttle or blame to be carelessly thrown to the right. Hmmmmm interesting. Theres a word for it, and it begins with the letter C. and ends in owardice.

      Report Post » mrsmileyface  
    • Professional Infidel
      Posted on April 16, 2011 at 9:23pm

      Couldn’t hear the RIGHT over the left. the the right only gripes about Obozo.

      Report Post »  
    • Professional Infidel
      Posted on April 16, 2011 at 9:24pm

      Were you in palm springs a week ago??

      Report Post »  
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